Since Tesla is an automobile manufacturer, it is expected that its biggest competitor will also be a company dedicated to the development and production of vehicles. However, Elon Musk revealed that this is not the case.
The CEO’s opinion was given, as always, via Twitter.
Before it became an electric car company, one of the most important in the market, Tesla was a hardware and software company. Indeed, it is the skills in this sector that guarantee the success that he has witnessed. In this way, its arrival shook the market - with undignified models that demonstrated that an electric vehicle could coexist with an attractive design - and accelerated electric mobility that is being widely adopted by other manufacturers.
As one of the giants in the electricity market, the main competitors are expected to be other manufacturers trying to break into this, which is the field of Tesla. However, Elon Musk has already revealed that his main competitor is much larger than the automaker.
The oil company is Tesla's biggest competitor
Seeking to speed up the transition to use Renewable energy It is not limited to the electrification of the supply. Therefore, Tesla's biggest competitor is, for Elon Musk, Aramco, one of the largest oil companies in the world, headquartered in Saudi Arabia. In addition, it is also one of the world's largest companies by market value and owns 69% of SABIC, one of the world's leading manufacturers of chemicals, fertilizers, plastics and metals.
All eyes are heavily on shareholders who hate the man who made them rich just because the market was downturn.
"It's all Elon's fault!"
Brother. I tell you that the stock price is too high. You said a recession is coming. Why are you ignoring and then getting angry at him lol
- The entire Mars catalog (WholeMarsBlog) 25 May 2022
In the opinion of the Tesla CEO - as always via Twitter - once the electricity maker outperforms Aramco in the stock market, "we will know the future will be good for the Earth." In addition to Aramco, which recently became the most valuable company, Tesla is expected to outperform other oil companies, revealing the maturity of the consumer market in terms of renewable energy.
Currently, although values fluctuate frequently and unexpectedly, Aramco's capital is $2.4 billion. In turn, Tesla set itself at $786 billion. Given this data, the path to the Earth's "good future" is expected to be long.
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